News | International
7 Oct 2024 14:28
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > International

    China announces new retirement ages, plans to foster 'new culture of marriage and child-bearing'

    The retirement age extension is considered long overdue by economists, with the current age of 60 for men and 50 or 55 for women depending on their jobs not having changed since the 1950s.


    China's government has confirmed it will soon begin raising the country's retirement age, which is currently among the youngest in the world's major economies.

    The extension is considered long overdue by economists, with the current age of 60 for men and 50 or 55 for women (depending on whether they work blue- or white-collar jobs) not having changed since the 1950s.

    That's despite life expectancy in China having risen to 78 years as of 2021, and being projected to exceed 80 years by 2050.

    The policy change will be carried out over 15 years, with the retirement age for men to be raised to 63 years, and to 55 or 58 years for women.

    That's a step short of the 65 years for all citizens that had recently been suggested in reports by state-run media, which backed the proposal first adopted by the Communist Party in July due to the country's shrinking population and aging work force.

    The policy will be implemented starting in January next year, according to the announcement from China's legislature, reported by state broadcaster CCTV.

    "We have more people coming into the retirement age, and so the pension fund is [facing] high pressure," said Xiujian Peng, a senior research fellow at Victoria University who studies China's population and its ties to the economy.

    "That's why I think it's now time [the Chinese government has decided] to act seriously.

    "If the population continues to decline, the shrinking of the labour force will accelerate, further negatively impacting economic growth."

    The change will take effect progressively based on a person's birthdate.

    For example, a man born in January 1971 could retire at the age of 61 years and seven months in August 2032, according to the chart released along with the policy.

    A man born in May 1971 could retire at the age of 61 years and eight months in January of 2033.

    Hundreds of thousands of people took to social media after China's official Xinhua news agency reported that officials were discussing the change, earlier this month, with many expressing concern there would be more job seekers chasing too few openings.

    ANZ's senior China strategist Xing Zhaopeng, meanwhile, said the move would likely have no impact on the economy in the short term, but in the long run would help to avoid "premature labour shortages" and maintain stable productivity growth.

    Top health body urges marriage, childbirth at 'appropriate ages'

    In a separate bid to tackle the country's declining birth rate, an official from China's National Health Commission (NHC) says the body will focus more efforts on advocating marriage and childbirth at "appropriate ages".

    Yu Xuejun, the organisation's deputy head, said the NHC would also call for shared parenting responsibilities to guide young people towards "positive perspectives on marriage, childbirth and family," the state-backed Global Times newspaper reported on Thursday.

    This would help to foster a "new culture of marriage and child-bearing," Mr Yu added.

    By law, Chinese men can only get married after the age of 22, and women after the age of 20.

    The move comes as Beijing tries to incentivise more women to have children after China's population fell for a second consecutive year in 2023 and births fell to a record low.

    Many women are opting to remain childless due to high childcare costs, as well as an unwillingness to put their careers on hold in a traditional society where they are still seen as the main caregivers and where gender discrimination remains rife.

    The number of marriages in the first half of this year fell to its lowest level since 2013, official data showed.

    Much of China's demographic downturn is the result of China's One Child Policy, which was imposed between 1980 and 2015.

    The NHC's Mr Yu said China's changing demographics of a low birth rate and rapid aging were a natural outcome of economic and social development, but added the committee was asking for persistent efforts from all "localities to promote sustainable demographic development".

    ABC/wires


    ABC




    © 2024 ABC Australian Broadcasting Corporation. All rights reserved

     Other International News
     07 Oct: Hezbollah rockets launched from Lebanon hit cities of Haifa and Tiberias in northern Israel
     07 Oct: Christopher Ciccone, Madonna's 'visionary' brother, dies aged 63
     07 Oct: Middle East war live updates: Israeli air strike hits mosque in central Gaza as woman killed after shooting attack in southern Israel's Beersheba
     07 Oct: Gus Taylor's long climb back after amputation and an accidental death
     07 Oct: Meet the Chinese youth going from the cities to the countryside
     07 Oct: A year on, the memories of October 7 still haunt Israelis
     07 Oct: Israel's defence minister warns Iran it may end up like Gaza and Beirut if it considers attacking
     Top Stories

    RUGBY RUGBY
    A Black Ferns defeat in British Columbia.. More...


    BUSINESS BUSINESS
    Grocery supplier costs appear to be under control More...



     Today's News

    International:
    Hezbollah rockets launched from Lebanon hit cities of Haifa and Tiberias in northern Israel 14:17

    Politics:
    Could NZ foreign policy be Trumped? Why the government will be hoping Kamala Harris wins the US election 14:07

    Law and Order:
    Police have confirmed a reported sighting of Tom Phillips and his children in the Marokopa area on Thursday night - was the family 14:07

    International:
    Christopher Ciccone, Madonna's 'visionary' brother, dies aged 63 13:57

    Law and Order:
    A woman's facing a murder charge after a man was found dead in Tauranga on Sunday 13:47

    Law and Order:
    Police have launched a homicide investigation after it appears a man died in Auckland's Point England - run over by his own vehicle 13:27

    Health & Safety:
    The Aged Care Commissioner has found Presbyterian Support Southland breached the rights of an elderly woman in its care in 2021 13:07

    Health & Safety:
    Kiwi consumers are still in the dark about some harmful ingredients in packaged foods 12:27

    Business:
    Grocery supplier costs appear to be under control 12:17

    International:
    Middle East war live updates: Israeli air strike hits mosque in central Gaza as woman killed after shooting attack in southern Israel's Beersheba 12:17


     News Search






    Power Search


    © 2024 New Zealand City Ltd